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Wednesday, November 13, 2013 3:01:17 PM
Gilat Satellite Networks (GILT -8.7%) shares plunged after the company missed expectations in Q3. Revenue of $71.3M (-11% Y/Y) missed by $12.9M. EPS of -$0.04, missed by $0.04.
Management noted on the conference call that the revenue shortfall was caused by delays in 2 projects that were expected in Q3: a $12M deal with Entel and an expansion project for an existing customer in LatAm.
The company expects "Q4 will be better than Q3 ... but [does] not expect it will be enough to make up for the Q3 shortfall." It cut full-year guidance to revenue of $310M (vs. consensus of $338.2M) and EBITDA margin of 6%.
Gilat's divestment of Spacenet to SageNet has been delayed after SageNet stated "it is not willing to proceed to closing at this time based on several assertions ... At this time the closing has been delayed."
Recent GILT News
- Gilat Satellite Networks Awarded Over $5M in Support of the US Department of Defense • GlobeNewswire Inc. • 09/16/2024 11:03:24 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/16/2024 11:00:13 AM
- Gilat Secures Over $12 Million Orders for SkyEdge Platforms from Leading Satellite Operator • GlobeNewswire Inc. • 09/05/2024 11:01:35 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/05/2024 10:59:43 AM
- Gilat Joins WAVE Consortium Board • GlobeNewswire Inc. • 08/15/2024 11:46:04 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/15/2024 11:15:06 AM
- Gilat Announces the Addition of SCPC Offering to the SkyEdge IV Aquarius Pro Modem • GlobeNewswire Inc. • 08/12/2024 11:01:14 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/12/2024 11:00:05 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/07/2024 12:30:01 PM
- Gilat Reports Second Quarter 2024 Results • GlobeNewswire Inc. • 08/07/2024 11:22:44 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/07/2024 11:18:33 AM
- Gilat Awarded Over $9M for its GEO and NGSO Satellite Communications Solutions • GlobeNewswire Inc. • 07/23/2024 11:01:58 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/23/2024 11:00:06 AM
- Gilat Awarded Over $5M by a National Defense Organization for the Upgrade of Transportable SATCOM Network Hubs • GlobeNewswire Inc. • 07/16/2024 11:03:21 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/16/2024 11:00:06 AM
- Gilat to Report Second Quarter 2024 Results on August 7th • GlobeNewswire Inc. • 07/11/2024 11:01:23 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/11/2024 11:00:08 AM
- Gilat Receives Over $10M Contract Extension for Cellular Backhaul Services • GlobeNewswire Inc. • 07/09/2024 11:02:52 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/09/2024 11:00:12 AM
- Gilat Awarded Over $9M to Support Critical Connectivity Requirements for the US Department of Defense • GlobeNewswire Inc. • 07/02/2024 11:11:28 AM
- Gilat Receives over $14M in Orders Expanding Further into the IFC Market • GlobeNewswire Inc. • 06/27/2024 11:11:06 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 06/20/2024 10:01:27 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/17/2024 10:20:07 AM
- Gilat to Acquire Stellar Blu, an IFC Market Leader with a First-to-Market ESA-Based Solution for Commercial Aviation • GlobeNewswire Inc. • 06/17/2024 10:04:43 AM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/28/2024 11:00:26 AM
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